Japan, China, South Korea to Form Tie-up in Insurance

Home>>Business

Last updated at: (Beijing Time) Monday, June 03, 2002

Japan, China, South Korea to Form Tie-up in Insurance

Tokio Marine & Fire Insurance Co. of Japan, People's Insurance Co. of China (PICC) and Samsung Fire & Marine Co. of the Republic of Korea have agreed to form a business tie-up, Kyodo reported Monday.

DISCUSSION

CHINESE

SEND TO FRIEND

Tokio Marine & Fire Insurance Co. of Japan, People's Insurance Co. of China (PICC) and Samsung Fire & Marine Co. of the Republic of Korea have agreed to form a business tie-up, Kyodo reported Monday.

The three companies -- each the largest casualty insurer in their respective country -- will establish a secretariat to decide the details of the tie-up on product development and market research.

Their presidents will meet annually to expand exchange and cooperation, Kyodo said.

Tokio Marine and Samsung Fire see the partnership with PICC, which has 77 per cent of China's casualty insurance market share, as an opportunity to strengthen their mutual business cooperation and dig more business chances in China, while PICC hopes to gain know-how from the other two, Kyodo added.

Questions?Comments? Click here

New Zealand Insurance Company Eyes China Market

First Life Insurance Joint Venture to Operate in China

Canadian Insurance Giant Establishes Joint Venture in China

WTO Entry to Bring China an Annual Increase of 3 Million Employment ( 21 Messages)

'Kunlun' Jet-engine to Power China's Airforce ( 6 Messages)

Japanese, Chinese Economy Combined to Overtake US in 20 Years ( 72 Messages)

China Wins Contract to Build Another "Three Gorges" Dam in Africa ( 4 Messages)

US Taiwan Acts Jeopardize Sino-US Ties: Analysis ( 42 Messages)

China's Economy will be World's Second-largest by 2030: Report ( 5 Messages)